The Hindu Business Line : Crude oil import bill jumps 51 pc in first quarter

THE country's crude oil import bill climbed 51 per cent to Rs 29,551 crore in the first quarter of this financial year because of rising global crude oil prices.

According to the Ministry of Petroleum and Natural Gas, net imports of oil products, after writing off value of exports, were up 51 per cent to Rs 27,135 crore. Petroleum product imports jumped 64.8 per cent to Rs 2,798 crore.

According to figures released by the Ministry of Commerce, oil imports during April-June were valued at $6622.05 million which is 44.69 per cent higher than $4576.74 million last year.

India imported 25.785 million tonnes of crude and 1.437 million tonnes of petroleum products in April-June this year.

Exports of petroleum products jumped 57.6 per cent in April-June, to 3.633 million tonnes at Rs 5,214 crore. Diesel sales in India rose 10.8 per cent to 3.33 million tonnes as against 3.01 million tonnes in July last year while petrol sales rose 4.9 per cent to 6,99,900 tonnes.

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